Firstlight Network
Powerco has entered into an agreement to purchase Firstlight Network, the distribution network company that supplies electricity to Tairāwhiti and Wairoa. Read the news announcement here.
Like with any change, we understand you may be uncertain and have questions. For that reason, we’ve put together some questions and answers below, which we will update as new information becomes available.
In the meantime, please know our team works hard to put local communities and customers at the heart of everything we do. That will continue if we are fortunate enough to own and manage the Tairāwhiti and Wairoa communities’ electricity network.
Why does Powerco want to purchase Firstlight Network?
We looked at the business when it was first on the market in 2022. As was our view then, we believe there’s an opportunity to utilise the skills and resources within Powerco to improve the performance of this electricity network for the local communities and their people.
We believe the most efficient and cost effective way for local communities to receive reliable, resilient and affordable electricity, is through having an electricity distribution company that has the capability and capacity to deliver. With almost 360,000 homes and businesses across the North Island already connected to our electricity network, we have the scale, capability and capacity, along with innovative solutions and experience working with communities, to make the necessary long-term investments and lead a sustainable energy transition for the Tairāwhiti and Wairoa communities.
What will be different in the short-term?
Nothing will change in the short-term. You will continue to be looked after by the same great team at Firstlight Network as you are now.
As with Firstlight Network’s current owners, we’re backed by overseas investors (49% by Australian Retirement Trust, managed by QIC Limited, and 51% owned by funds managed by Dexus). This means we now await approval by the New Zealand Overseas Investment Office (OIO), as well as other commercial considerations, before the purchase can be finalised. If approved, we’re planning for settlement and ownership change to happen in the first half of 2026.
Even then, we’ll take a phased approach to integrating Firstlight Network and Powerco.
What does it mean for me and my community?
Powerco’s purpose is to connect communities. We understand community identity matters and acknowledge the unique identity and mana of the Firstlight Network region – the first to see the sun.This essence of place, pride and connection will be preserved through a local presence in your community and tailored engagement.
You can be assured too that we will continue to support local events, community initiatives and marae-based engagement, as well as offer our Community Fund and Replant for Tomorrow Fund to support local and regional priorities.
Our prices are regulated to ensure they’re fair
The Commerce Commission regulates and oversees the electricity distribution industry, and we work with them to ensure we provide a reliable electricity supply at a fair price to you.
As with other electricity distribution companies, we update our prices each year (effective from 1 April) to make sure we can continue to meet electricity demand as the communities we serve continue to grow, and the way our customers use electricity changes.
The overall impact on your electricity bill depends on things like how and when you use electricity and how your retailer (the company you pay your power bill to) chooses to pass our charges on to you. Learn more.
Our promise to you
With customers at the centre of everything we do, our customer commitments show the standards we hold ourselves to and how we ensure, and measure, your satisfaction with the mahi we do. Learn more.
The pillars of our work
We’re committed to balancing the needs of our people, communities, environment and business. Our five pou (pillars) guide us on our sustainability journey, representing the five focus areas of our work and the goals we want to achieve for each. Learn more.
What won’t change?
We’re proud to be part of the communities we live and work in and know that the best way to manage an electricity network is to have local people serving local communities. If we’re given approval to acquire the Firstlight business, local people will continue to work with us on the network. Those local people will be supported by our ability and experience for already serving communities across geographically large and diverse regions.
How will we know what’s happening?
We’re committed to keeping you informed about milestones in the purchase process along the way, mainly through this page on our website.
